Deutsche Bank started coverage on shares of Cotiviti (NYSE:COTV) in a research report released on Friday, Marketbeat.com reports. The firm issued a hold rating and a $34.00 price target on the business services provider’s stock.
Other analysts have also issued research reports about the stock. Robert W. Baird restated a buy rating and set a $44.00 price target on shares of Cotiviti in a research note on Friday, November 3rd. SunTrust Banks restated a buy rating and set a $45.00 price target on shares of Cotiviti in a research note on Friday, November 10th. Jefferies Group decreased their price target on shares of Cotiviti from $41.00 to $35.00 and set a hold rating for the company in a research note on Friday, November 3rd. BidaskClub upgraded shares of Cotiviti from a sell rating to a hold rating in a research note on Tuesday, September 26th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Cotiviti in a research note on Thursday, September 21st. They set an overweight rating and a $42.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Cotiviti currently has an average rating of Hold and a consensus target price of $40.38.
Shares of Cotiviti (NYSE COTV) opened at $31.85 on Friday. The firm has a market cap of $2,941.94, a price-to-earnings ratio of 22.27, a PEG ratio of 1.81 and a beta of 0.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 1.44. Cotiviti has a one year low of $30.84 and a one year high of $45.97.
Cotiviti (NYSE:COTV) last released its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $174.20 million during the quarter, compared to analyst estimates of $174.01 million. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. Cotiviti’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. analysts expect that Cotiviti will post 1.41 earnings per share for the current fiscal year.
In other news, SVP Jonathan Olefson sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $32.37, for a total value of $485,550.00. Following the completion of the sale, the senior vice president now owns 15,149 shares in the company, valued at approximately $490,373.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the chief operating officer now owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,440 shares of company stock valued at $4,372,040. Company insiders own 15.80% of the company’s stock.
Several large investors have recently modified their holdings of COTV. Great West Life Assurance Co. Can purchased a new position in shares of Cotiviti in the 2nd quarter worth about $107,000. BNP Paribas Arbitrage SA lifted its holdings in Cotiviti by 553.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,657 shares during the last quarter. Strategic Global Advisors LLC purchased a new stake in Cotiviti during the third quarter valued at about $200,000. Pacer Advisors Inc. lifted its holdings in Cotiviti by 138.9% during the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in Cotiviti during the second quarter valued at about $237,000. 86.18% of the stock is currently owned by institutional investors.
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Cotiviti Company Profile
Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company focuses primarily on the healthcare sector. The Company operates through two segments: Healthcare, and Global Retail and Other. Through its Healthcare segment, the Company offers prospective and retrospective claims accuracy solutions to healthcare payers in the United States.
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